The Reform of the Pension System in Italy
IMF Working Papers, February 1, 1997
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- The Reform of the Pension System in Italy
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Bibliographic details
- Authors: A. J Hamann
- Published: February 1, 1997
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451922790.001
Summary
- Italy’s pension system was reformed in August 1995.
- The new system has various desirable long-run properties and, overall, represents an improvement over earlier systems.
- The reform fails to address two longstanding problems:
- extremely high contribution rates; and
- a lack of provisions for dealing with the substantial deterioration in demographic ratios expected over the next 30-40 years.
Principal findings and issues
- Reform outcome:
- Improvement over earlier systems in long-run properties.
- Remaining problems:
- Extremely high contribution rates (no numeric value provided for the rate in the source).
- Anticipated substantial deterioration in demographic ratios over the next 30-40 years, with no specific corrective provisions in the reform.
Subjects and keywords (as listed)
- Subject: Aging, Demographic change, Expenditure, Labor, Pension spending, Pensions, Population and demographics, Retirement
- Keywords: Aging, Amato system, coefficient, contribution rate, Demographic change, dependency ratio, early retirement, Pension spending, pension-to-GDP ratio, Pensions, ratio, Retirement, self-employed worker, transformation coefficient, WP, yield coefficient
Notable procedural note from the working paper
- Disclaimer present on the page: "This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate."
Source: The Reform of the Pension System in Italy, By A. J Hamann, IMF Working Papers 1997, 018 (February 1, 1997).
Content in this bundle
- The Reform of the Pension System in Italy - WP/97/18